Loanpal Reviews (2038)
View Photos
Loanpal Rating
Address: 8781 Sierra College Blvd, Roseville, California, United States, 95661-5920
Phone: |
Show more...
|
Fax: |
+1 (916) 290-9992 |
Web: |
|
E-mails: |
Sign in to see
|
Add contact information for Loanpal
Add new contacts
ADVERTISEMENT
I purchased a solar panel system end of 2018. I was told that in order to keep my loan at the provided APR, that I had to put forward the Federal tax return amount received that year. I was also told that I would have up to three years to complete the 30% tax return. I recently called Loanpal about the tax return, because I was advised by my tax professional that I would only be receiving $497 for energy credits, not the full 30% due tp changes in the law. Loanpal then told me that if I do not pay the other $6500 out of pocket by June, my loan would still increase. The purpose of the loan is to make energy efficiency more affordable, this practice is going to cause financial hardships and possibly bankrupt consumers. This is not how you treat the people who choose to do business with you. The customer service representatives are not helpful at all either. I will never do business with this company again.
On 10/2/2018, Ms. did purchase a residential solar system from ***. During the sales process, Ms. was given option on how to purchase the system, one being a loan though Loanpal. Ms. chose that option and executed loan documents presented to her on 10/2/2018. Those loan documents included all of the terms of the loan, including the re-amortization feature that keeps the monthly payment lower for the first 18 months of the loan. The feature is on all of Loanpal’s solar loans and allows time for the customer to take any tax credit money and apply it to the loan to keep the payment the same. The terns of this feature are clearly outlined in the loan documents.
Loanpal has reviewed all of the conversations and calls to Ms. to understand her complaint and take any corrective action if needed. During that research, we found only 2 connected phone calls with the customer. In reviewing the first recording, the Loanpal representative never mentioned the timeline to pay down the loan to keep the payment the same (the 3 years mentioned in the complaint). At the end of the short call, the representative escalated the call at the customer’s request. On the next call on 10/8/18 a different Loanpal representative spoke to Ms. and explained the loan and its terms (again the 18-month re-amortization, not 3 years). Ms. responded by stating that was not the way the solar representative from *** explained the loan and because that person does not work for Loanpal, we sent a request to *** to contact Ms. and discuss the situation and resolve it. On 11/28, Loanpal received notice that *** resolved the issue and we closed the escalation. Should you need more information on Ms.’s contact with ***, you would have to speak with ***. Loanpal has had no other verbal contact with Ms. since November of 2018.. During both of those calls, Loanpal’s representatives handled the calls with professionalism and per those calls, we assisted Ms. to her satisfaction.
Ms. would like Loanpal to decrease her loan amount by the 30%. However, we are unable to do this as Ms. executed loan documents with all of the terms defined. If there was confusion as it relates to how the federal ITC tax credit works, Ms. should contact ***, as that was the company that presented the benefits of adding a solar system to the home, one of which was using the tax credit to pay down their loan and all of the monthly payments. I do understand the situation Ms. is in and Loanpal would like to do something to help and will communicate with her for the service gesture.
I am rejecting this response because: it is a lie!
I purchased a solar panel system end of 2018. I was told that in order to keep my loan at the provided APR, that I had to put forward the Federal tax return amount received that year. I was also told that I would have up to three years to complete the 30% tax return. I recently called Loanpal about the tax return, because I was advised by my tax professional that I would only be receiving $497 for energy credits, not the full 30% due tp changes in the law. Loanpal then told me that if I do not pay the other $6500 out of pocket by June, my loan would still increase. The purpose of the loan is to make energy efficiency more affordable, this practice is going to cause financial hardships and possibly bankrupt consumers. This is not how you treat the people who choose to do business with you. The customer service representatives are not helpful at all either. I will never do business with this company again.
On 10/2/2018, Ms. did purchase a residential solar system from ***. During the sales process, Ms. was given option on how to purchase the system, one being a loan though Loanpal. Ms. chose that option and executed loan documents presented to her on 10/2/2018. Those loan documents included all of the terms of the loan, including the re-amortization feature that keeps the monthly payment lower for the first 18 months of the loan. The feature is on all of Loanpal’s solar loans and allows time for the customer to take any tax credit money and apply it to the loan to keep the payment the same. The terns of this feature are clearly outlined in the loan documents.
Loanpal has reviewed all of the conversations and calls to Ms. to understand her complaint and take any corrective action if needed. During that research, we found only 2 connected phone calls with the customer. In reviewing the first recording, the Loanpal representative never mentioned the timeline to pay down the loan to keep the payment the same (the 3 years mentioned in the complaint). At the end of the short call, the representative escalated the call at the customer’s request. On the next call on 10/8/18 a different Loanpal representative spoke to Ms. and explained the loan and its terms (again the 18-month re-amortization, not 3 years). Ms. responded by stating that was not the way the solar representative from *** explained the loan and because that person does not work for Loanpal, we sent a request to *** to contact Ms. and discuss the situation and resolve it. On 11/28, Loanpal received notice that *** resolved the issue and we closed the escalation. Should you need more information on Ms.’s contact with ***, you would have to speak with ***. Loanpal has had no other verbal contact with Ms. since November of 2018.. During both of those calls, Loanpal’s representatives handled the calls with professionalism and per those calls, we assisted Ms. to her satisfaction.
Ms. would like Loanpal to decrease her loan amount by the 30%. However, we are unable to do this as Ms. executed loan documents with all of the terms defined. If there was confusion as it relates to how the federal ITC tax credit works, Ms. should contact ***, as that was the company that presented the benefits of adding a solar system to the home, one of which was using the tax credit to pay down their loan and all of the monthly payments. I do understand the situation Ms. is in and Loanpal would like to do something to help and will communicate with her for the service gesture.
I am rejecting this response because: it is a lie!
Horrific experience with thos company. No desire to work through issues and extremely unhelpful with questions. Will never even consider using this company again.
Horrific experience with thos company. No desire to work through issues and extremely unhelpful with questions. Will never even consider using this company again.
Horrific experience with thos company. No desire to work through issues and extremely unhelpful with questions. Will never even consider using this company again.
Horrific experience with thos company. No desire to work through issues and extremely unhelpful with questions. Will never even consider using this company again.
The process was fairly simple to begin with, they use Docusign for their electronic forms which makes that part very easy. The company, however, is completely hands off with the process, leaving the entire thing to automation. The solar company for which the loan is designated had a pretty extensive delay on my project, and resulted in numerous problems with the loan that were quite frankly, ridiculous. First, the amount had somehow gotten fudged by 46 cents, and I was informed that I would need to resign all the documents. It seems to me that since I already signed the documents, and no one cares about 46 cents, either myself, the solar company, or loanpal could have eaten that, but no, there is no waiver or anything available. You have to resign everything. Then the credit report they took originally "expired". 2 days later. So then that nullified everything and I had to start all over with a new credit report EVEN THOUGH THE LOAN WAS ALREADY APPROVED!!! It seems to me someone or some system of theirs could have noticed that before sending out an entirely new loan for me to sign if it was just going to expire. So they run another credit report, and after that is approved...you guessed it...I sign all the loan docs for a THIRD time. At this point I have been trying to get the installation of the panels figured out with the solar company, who is equally confused with the seeming incompetence of this loan company, and is repeatedly trying to talk sense into their customer service. I'm still not entirely sure everything is kosher, because the last 2 times I got a confirmation of the loan, it was rescinded. Or maybe it wasn't, maybe I actually have three $26,000 loans now! Who knows? Their communication is pretty absent besides the repeated docusign requests. One other complaint: at one point, I received a notification that was supposed to go to the solar company, which caused a huge delay and confusion as they couldn't tell that I had signed the thing through whatever portal they use, and after much back and forth, they finally got a hold of loanpal to straighten that out. I would say despite the ease and simplicity of the process, its not worth the frustration and confusion involved if any irregularity occurs. This is an AMATEUR loan provider.
The process was fairly simple to begin with, they use Docusign for their electronic forms which makes that part very easy. The company, however, is completely hands off with the process, leaving the entire thing to automation. The solar company for which the loan is designated had a pretty extensive delay on my project, and resulted in numerous problems with the loan that were quite frankly, ridiculous. First, the amount had somehow gotten fudged by 46 cents, and I was informed that I would need to resign all the documents. It seems to me that since I already signed the documents, and no one cares about 46 cents, either myself, the solar company, or loanpal could have eaten that, but no, there is no waiver or anything available. You have to resign everything. Then the credit report they took originally "expired". 2 days later. So then that nullified everything and I had to start all over with a new credit report EVEN THOUGH THE LOAN WAS ALREADY APPROVED!!! It seems to me someone or some system of theirs could have noticed that before sending out an entirely new loan for me to sign if it was just going to expire. So they run another credit report, and after that is approved...you guessed it...I sign all the loan docs for a THIRD time. At this point I have been trying to get the installation of the panels figured out with the solar company, who is equally confused with the seeming incompetence of this loan company, and is repeatedly trying to talk sense into their customer service. I'm still not entirely sure everything is kosher, because the last 2 times I got a confirmation of the loan, it was rescinded. Or maybe it wasn't, maybe I actually have three $26,000 loans now! Who knows? Their communication is pretty absent besides the repeated docusign requests. One other complaint: at one point, I received a notification that was supposed to go to the solar company, which caused a huge delay and confusion as they couldn't tell that I had signed the thing through whatever portal they use, and after much back and forth, they finally got a hold of loanpal to straighten that out. I would say despite the ease and simplicity of the process, its not worth the frustration and confusion involved if any irregularity occurs. This is an AMATEUR loan provider.
The process was fairly simple to begin with, they use Docusign for their electronic forms which makes that part very easy. The company, however, is completely hands off with the process, leaving the entire thing to automation. The solar company for which the loan is designated had a pretty extensive delay on my project, and resulted in numerous problems with the loan that were quite frankly, ridiculous. First, the amount had somehow gotten fudged by 46 cents, and I was informed that I would need to resign all the documents. It seems to me that since I already signed the documents, and no one cares about 46 cents, either myself, the solar company, or loanpal could have eaten that, but no, there is no waiver or anything available. You have to resign everything. Then the credit report they took originally "expired". 2 days later. So then that nullified everything and I had to start all over with a new credit report EVEN THOUGH THE LOAN WAS ALREADY APPROVED!!! It seems to me someone or some system of theirs could have noticed that before sending out an entirely new loan for me to sign if it was just going to expire. So they run another credit report, and after that is approved...you guessed it...I sign all the loan docs for a THIRD time. At this point I have been trying to get the installation of the panels figured out with the solar company, who is equally confused with the seeming incompetence of this loan company, and is repeatedly trying to talk sense into their customer service. I'm still not entirely sure everything is kosher, because the last 2 times I got a confirmation of the loan, it was rescinded. Or maybe it wasn't, maybe I actually have three $26,000 loans now! Who knows? Their communication is pretty absent besides the repeated docusign requests. One other complaint: at one point, I received a notification that was supposed to go to the solar company, which caused a huge delay and confusion as they couldn't tell that I had signed the thing through whatever portal they use, and after much back and forth, they finally got a hold of loanpal to straighten that out. I would say despite the ease and simplicity of the process, its not worth the frustration and confusion involved if any irregularity occurs. This is an AMATEUR loan provider.
The process was fairly simple to begin with, they use Docusign for their electronic forms which makes that part very easy. The company, however, is completely hands off with the process, leaving the entire thing to automation. The solar company for which the loan is designated had a pretty extensive delay on my project, and resulted in numerous problems with the loan that were quite frankly, ridiculous. First, the amount had somehow gotten fudged by 46 cents, and I was informed that I would need to resign all the documents. It seems to me that since I already signed the documents, and no one cares about 46 cents, either myself, the solar company, or loanpal could have eaten that, but no, there is no waiver or anything available. You have to resign everything. Then the credit report they took originally "expired". 2 days later. So then that nullified everything and I had to start all over with a new credit report EVEN THOUGH THE LOAN WAS ALREADY APPROVED!!! It seems to me someone or some system of theirs could have noticed that before sending out an entirely new loan for me to sign if it was just going to expire. So they run another credit report, and after that is approved...you guessed it...I sign all the loan docs for a THIRD time. At this point I have been trying to get the installation of the panels figured out with the solar company, who is equally confused with the seeming incompetence of this loan company, and is repeatedly trying to talk sense into their customer service. I'm still not entirely sure everything is kosher, because the last 2 times I got a confirmation of the loan, it was rescinded. Or maybe it wasn't, maybe I actually have three $26,000 loans now! Who knows? Their communication is pretty absent besides the repeated docusign requests. One other complaint: at one point, I received a notification that was supposed to go to the solar company, which caused a huge delay and confusion as they couldn't tell that I had signed the thing through whatever portal they use, and after much back and forth, they finally got a hold of loanpal to straighten that out. I would say despite the ease and simplicity of the process, its not worth the frustration and confusion involved if any irregularity occurs. This is an AMATEUR loan provider.
I received a loan through Loanpal to fund a solar panel installation on my home in July 2018. First it started off that I was informed that I would pay my first bill after 60 days. About 8 months later (Feb 2019) I listed my home for sale. When I called in to inquire about my payoff loan amount, the amount listed was more than what my original loan was. I escalated the isssue and was told that all of my payments until March 2020 would soslely go to interst and nothing towards the principal. This is not how loans are meant to be. A loan payment is supposed to be split between both principal and interest. To have a bounce far great than what my loan was initially established for is not only heinous but asinine as well. This is not how a company should operate at all. All documentation that has been mailed to me never showed this issue or I would have caught it earlier.
On 3/21/2018, Mr. electronically signed Loanpal's loan documents for his residential solar system. Contained in those documents are both the way interest accrues and how the payments are structured. Loanpal offers its customers a few loan features unique to residential solar loans that include no payments for 60 days, as well as an initial payment structure designed to give the customer up to 18 months to realize the federal solar tax credit and then apply that credit to the loan. Both of these features are defined in the loan documents that Mr. and other customers sign and receive a copy of. As such. Mr. claims about all documents not containing this information is not true.
To be more specifically, in the Loan Information section of the documents it states "The estimated First Payment Date assumes you will begin making payments approximately 60 days after the Loan Start Date. The longer your First Payment Date is from the Loan Start Date, the more interest you will pay, as interest on this loan accrues on the outstanding principal balance until the First Payment Date." What this confirms in is that interest accrues from day 1-59 and is applied to the balance of the loan. As such, if not additional principal payments are made, the loan balance will increase, as it did with Mr. loan.
As it relates to Mr. issue regarding the loan not paying down any principal as of yet, that is true. For the first 18 months of the loan, it is an interest payment. At month 19, the loan re-amortizes and all payments made will pay interest and principle. As for Mr. comment that he was not told this, it is in loan documents he signed under Loan Information, Target Balance Payments and Initial Monthly Payment where is states "You also understand that your Initial Monthly Payments will not be fully amortizing, but your new Monthly Payment after the Target Balance Date will be fully amortizing."
I would be happy to review the loan documents and all activity on his account if he would like to ensure clarity on his mis understanding. With the customer's permission, I can also send them to the *** for review.
I received a loan through Loanpal to fund a solar panel installation on my home in July 2018. First it started off that I was informed that I would pay my first bill after 60 days. About 8 months later (Feb 2019) I listed my home for sale. When I called in to inquire about my payoff loan amount, the amount listed was more than what my original loan was. I escalated the isssue and was told that all of my payments until March 2020 would soslely go to interst and nothing towards the principal. This is not how loans are meant to be. A loan payment is supposed to be split between both principal and interest. To have a bounce far great than what my loan was initially established for is not only heinous but asinine as well. This is not how a company should operate at all. All documentation that has been mailed to me never showed this issue or I would have caught it earlier.
On 3/21/2018, Mr. electronically signed Loanpal's loan documents for his residential solar system. Contained in those documents are both the way interest accrues and how the payments are structured. Loanpal offers its customers a few loan features unique to residential solar loans that include no payments for 60 days, as well as an initial payment structure designed to give the customer up to 18 months to realize the federal solar tax credit and then apply that credit to the loan. Both of these features are defined in the loan documents that Mr. and other customers sign and receive a copy of. As such. Mr. claims about all documents not containing this information is not true.
To be more specifically, in the Loan Information section of the documents it states "The estimated First Payment Date assumes you will begin making payments approximately 60 days after the Loan Start Date. The longer your First Payment Date is from the Loan Start Date, the more interest you will pay, as interest on this loan accrues on the outstanding principal balance until the First Payment Date." What this confirms in is that interest accrues from day 1-59 and is applied to the balance of the loan. As such, if not additional principal payments are made, the loan balance will increase, as it did with Mr. loan.
As it relates to Mr. issue regarding the loan not paying down any principal as of yet, that is true. For the first 18 months of the loan, it is an interest payment. At month 19, the loan re-amortizes and all payments made will pay interest and principle. As for Mr. comment that he was not told this, it is in loan documents he signed under Loan Information, Target Balance Payments and Initial Monthly Payment where is states "You also understand that your Initial Monthly Payments will not be fully amortizing, but your new Monthly Payment after the Target Balance Date will be fully amortizing."
I would be happy to review the loan documents and all activity on his account if he would like to ensure clarity on his mis understanding. With the customer's permission, I can also send them to the *** for review.
I received a loan through Loanpal to fund a solar panel installation on my home in July 2018. First it started off that I was informed that I would pay my first bill after 60 days. About 8 months later (Feb 2019) I listed my home for sale. When I called in to inquire about my payoff loan amount, the amount listed was more than what my original loan was. I escalated the isssue and was told that all of my payments until March 2020 would soslely go to interst and nothing towards the principal. This is not how loans are meant to be. A loan payment is supposed to be split between both principal and interest. To have a bounce far great than what my loan was initially established for is not only heinous but asinine as well. This is not how a company should operate at all. All documentation that has been mailed to me never showed this issue or I would have caught it earlier.
On 3/21/2018, Mr. electronically signed Loanpal's loan documents for his residential solar system. Contained in those documents are both the way interest accrues and how the payments are structured. Loanpal offers its customers a few loan features unique to residential solar loans that include no payments for 60 days, as well as an initial payment structure designed to give the customer up to 18 months to realize the federal solar tax credit and then apply that credit to the loan. Both of these features are defined in the loan documents that Mr. and other customers sign and receive a copy of. As such. Mr. claims about all documents not containing this information is not true.
To be more specifically, in the Loan Information section of the documents it states "The estimated First Payment Date assumes you will begin making payments approximately 60 days after the Loan Start Date. The longer your First Payment Date is from the Loan Start Date, the more interest you will pay, as interest on this loan accrues on the outstanding principal balance until the First Payment Date." What this confirms in is that interest accrues from day 1-59 and is applied to the balance of the loan. As such, if not additional principal payments are made, the loan balance will increase, as it did with Mr. loan.
As it relates to Mr. issue regarding the loan not paying down any principal as of yet, that is true. For the first 18 months of the loan, it is an interest payment. At month 19, the loan re-amortizes and all payments made will pay interest and principle. As for Mr. comment that he was not told this, it is in loan documents he signed under Loan Information, Target Balance Payments and Initial Monthly Payment where is states "You also understand that your Initial Monthly Payments will not be fully amortizing, but your new Monthly Payment after the Target Balance Date will be fully amortizing."
I would be happy to review the loan documents and all activity on his account if he would like to ensure clarity on his mis understanding. With the customer's permission, I can also send them to the *** for review.
I received a loan through Loanpal to fund a solar panel installation on my home in July 2018. First it started off that I was informed that I would pay my first bill after 60 days. About 8 months later (Feb 2019) I listed my home for sale. When I called in to inquire about my payoff loan amount, the amount listed was more than what my original loan was. I escalated the isssue and was told that all of my payments until March 2020 would soslely go to interst and nothing towards the principal. This is not how loans are meant to be. A loan payment is supposed to be split between both principal and interest. To have a bounce far great than what my loan was initially established for is not only heinous but asinine as well. This is not how a company should operate at all. All documentation that has been mailed to me never showed this issue or I would have caught it earlier.
On 3/21/2018, Mr. electronically signed Loanpal's loan documents for his residential solar system. Contained in those documents are both the way interest accrues and how the payments are structured. Loanpal offers its customers a few loan features unique to residential solar loans that include no payments for 60 days, as well as an initial payment structure designed to give the customer up to 18 months to realize the federal solar tax credit and then apply that credit to the loan. Both of these features are defined in the loan documents that Mr. and other customers sign and receive a copy of. As such. Mr. claims about all documents not containing this information is not true.
To be more specifically, in the Loan Information section of the documents it states "The estimated First Payment Date assumes you will begin making payments approximately 60 days after the Loan Start Date. The longer your First Payment Date is from the Loan Start Date, the more interest you will pay, as interest on this loan accrues on the outstanding principal balance until the First Payment Date." What this confirms in is that interest accrues from day 1-59 and is applied to the balance of the loan. As such, if not additional principal payments are made, the loan balance will increase, as it did with Mr. loan.
As it relates to Mr. issue regarding the loan not paying down any principal as of yet, that is true. For the first 18 months of the loan, it is an interest payment. At month 19, the loan re-amortizes and all payments made will pay interest and principle. As for Mr. comment that he was not told this, it is in loan documents he signed under Loan Information, Target Balance Payments and Initial Monthly Payment where is states "You also understand that your Initial Monthly Payments will not be fully amortizing, but your new Monthly Payment after the Target Balance Date will be fully amortizing."
I would be happy to review the loan documents and all activity on his account if he would like to ensure clarity on his mis understanding. With the customer's permission, I can also send them to the *** for review.
I recently got *** panels installed on my home and the company I used to get them used loanpal as the loan company for the financing. I didn’t do my research on the loan company because I assumed beings the *** company used them they would be good, however when I got the loan the representative I spoke with told me that if I got the *** panels I would receive 30% back when I filled my taxes and that I would be able to use it to pay down my loan to keep my payments at the same price. Well I trusted them because I’m only 22 and it’s my first home and I had never done anything like this. Well when I went to do my taxes I find out that I would not get anything back for having *** panels. When the company called me about paying down my loan with my taxes and I explained to them that I didn’t get anything for having *** panels and I tried to ask them why I didn’t receive anything even though they told me I would I was told it wasn’t their problem and that either I found the money to pay it down or my payments would go up. After dealing with this company I’ve learned my lesson and wish I would have known to check out loan companies sooner because I would have never went with this company.
Thank you for bringing this issue to our attention. We have completed our research of the issue and our findings are below base don our recorded conversations wiht the customer.
Loanpal did, in fact, provide the loan for Mr. *** system that he purchased through *** Technologies. I have reviewed the phone calls we had with Mr. and there was no mention of a guarantee for a tax credit made from our representatives on either phone call we made. The first call we made were to review the terms of the loan which was done to Mr. satisfaction. The second call which he references related to taxes is a customer service call we make to ensure the customer has all of the documents they need to apply for the tax credit. In Mr. case, when he mentioned he was not getting a credit our represented spoke to him about the option for the tax credit to carry forward to 2019, then reviewed the re-amortization feature of his loan. Our representative never stated that it was his problem.
I would suggest Mr. contact *** about this issue as they were the company that sold the *** system to Mr. and spoke to him about the costs and benefits of the system, including the tax credits and the loan terms. While Loanpal provides the technology to apply for and be approved for the loan, it is all done via the *** systems and Loanpal does not speak with the customer until after the loan funds. If any comments about getting the 30% tax credit was made it would be during the sales process with *** Technologies.
I recently got *** panels installed on my home and the company I used to get them used loanpal as the loan company for the financing. I didn’t do my research on the loan company because I assumed beings the *** company used them they would be good, however when I got the loan the representative I spoke with told me that if I got the *** panels I would receive 30% back when I filled my taxes and that I would be able to use it to pay down my loan to keep my payments at the same price. Well I trusted them because I’m only 22 and it’s my first home and I had never done anything like this. Well when I went to do my taxes I find out that I would not get anything back for having *** panels. When the company called me about paying down my loan with my taxes and I explained to them that I didn’t get anything for having *** panels and I tried to ask them why I didn’t receive anything even though they told me I would I was told it wasn’t their problem and that either I found the money to pay it down or my payments would go up. After dealing with this company I’ve learned my lesson and wish I would have known to check out loan companies sooner because I would have never went with this company.
Thank you for bringing this issue to our attention. We have completed our research of the issue and our findings are below base don our recorded conversations wiht the customer.
Loanpal did, in fact, provide the loan for Mr. *** system that he purchased through *** Technologies. I have reviewed the phone calls we had with Mr. and there was no mention of a guarantee for a tax credit made from our representatives on either phone call we made. The first call we made were to review the terms of the loan which was done to Mr. satisfaction. The second call which he references related to taxes is a customer service call we make to ensure the customer has all of the documents they need to apply for the tax credit. In Mr. case, when he mentioned he was not getting a credit our represented spoke to him about the option for the tax credit to carry forward to 2019, then reviewed the re-amortization feature of his loan. Our representative never stated that it was his problem.
I would suggest Mr. contact *** about this issue as they were the company that sold the *** system to Mr. and spoke to him about the costs and benefits of the system, including the tax credits and the loan terms. While Loanpal provides the technology to apply for and be approved for the loan, it is all done via the *** systems and Loanpal does not speak with the customer until after the loan funds. If any comments about getting the 30% tax credit was made it would be during the sales process with *** Technologies.
I recently got *** panels installed on my home and the company I used to get them used loanpal as the loan company for the financing. I didn’t do my research on the loan company because I assumed beings the *** company used them they would be good, however when I got the loan the representative I spoke with told me that if I got the *** panels I would receive 30% back when I filled my taxes and that I would be able to use it to pay down my loan to keep my payments at the same price. Well I trusted them because I’m only 22 and it’s my first home and I had never done anything like this. Well when I went to do my taxes I find out that I would not get anything back for having *** panels. When the company called me about paying down my loan with my taxes and I explained to them that I didn’t get anything for having *** panels and I tried to ask them why I didn’t receive anything even though they told me I would I was told it wasn’t their problem and that either I found the money to pay it down or my payments would go up. After dealing with this company I’ve learned my lesson and wish I would have known to check out loan companies sooner because I would have never went with this company.
Thank you for bringing this issue to our attention. We have completed our research of the issue and our findings are below base don our recorded conversations wiht the customer.
Loanpal did, in fact, provide the loan for Mr. *** system that he purchased through *** Technologies. I have reviewed the phone calls we had with Mr. and there was no mention of a guarantee for a tax credit made from our representatives on either phone call we made. The first call we made were to review the terms of the loan which was done to Mr. satisfaction. The second call which he references related to taxes is a customer service call we make to ensure the customer has all of the documents they need to apply for the tax credit. In Mr. case, when he mentioned he was not getting a credit our represented spoke to him about the option for the tax credit to carry forward to 2019, then reviewed the re-amortization feature of his loan. Our representative never stated that it was his problem.
I would suggest Mr. contact *** about this issue as they were the company that sold the *** system to Mr. and spoke to him about the costs and benefits of the system, including the tax credits and the loan terms. While Loanpal provides the technology to apply for and be approved for the loan, it is all done via the *** systems and Loanpal does not speak with the customer until after the loan funds. If any comments about getting the 30% tax credit was made it would be during the sales process with *** Technologies.
I recently got *** panels installed on my home and the company I used to get them used loanpal as the loan company for the financing. I didn’t do my research on the loan company because I assumed beings the *** company used them they would be good, however when I got the loan the representative I spoke with told me that if I got the *** panels I would receive 30% back when I filled my taxes and that I would be able to use it to pay down my loan to keep my payments at the same price. Well I trusted them because I’m only 22 and it’s my first home and I had never done anything like this. Well when I went to do my taxes I find out that I would not get anything back for having *** panels. When the company called me about paying down my loan with my taxes and I explained to them that I didn’t get anything for having *** panels and I tried to ask them why I didn’t receive anything even though they told me I would I was told it wasn’t their problem and that either I found the money to pay it down or my payments would go up. After dealing with this company I’ve learned my lesson and wish I would have known to check out loan companies sooner because I would have never went with this company.
Thank you for bringing this issue to our attention. We have completed our research of the issue and our findings are below base don our recorded conversations wiht the customer.
Loanpal did, in fact, provide the loan for Mr. *** system that he purchased through *** Technologies. I have reviewed the phone calls we had with Mr. and there was no mention of a guarantee for a tax credit made from our representatives on either phone call we made. The first call we made were to review the terms of the loan which was done to Mr. satisfaction. The second call which he references related to taxes is a customer service call we make to ensure the customer has all of the documents they need to apply for the tax credit. In Mr. case, when he mentioned he was not getting a credit our represented spoke to him about the option for the tax credit to carry forward to 2019, then reviewed the re-amortization feature of his loan. Our representative never stated that it was his problem.
I would suggest Mr. contact *** about this issue as they were the company that sold the *** system to Mr. and spoke to him about the costs and benefits of the system, including the tax credits and the loan terms. While Loanpal provides the technology to apply for and be approved for the loan, it is all done via the *** systems and Loanpal does not speak with the customer until after the loan funds. If any comments about getting the 30% tax credit was made it would be during the sales process with *** Technologies.
I love this company especially Nathan S not only did he make the process easy, he also made me realize I was over paying my insurance and got me in touch with an agent who got me great price on same coverage. I was scared to use an out of state company but Nathan has been great with keeping contact throughout the process and walking me thru the document signing. I would recommend this agent and company 10x over
I love this company especially Nathan S not only did he make the process easy, he also made me realize I was over paying my insurance and got me in touch with an agent who got me great price on same coverage. I was scared to use an out of state company but Nathan has been great with keeping contact throughout the process and walking me thru the document signing. I would recommend this agent and company 10x over